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Pennsylvania House of Representatives
06/01/2024 01:36 AM
Pennsylvania House of Representatives
https://www.legis.state.pa.us/cfdocs/Legis/CSM/showMemoPublic.cfm?SPick=20230&chamber=H&cosponId=42531
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House of Representatives
Session of 2023 - 2024 Regular Session

MEMORANDUM

Posted: April 16, 2024 04:12 PM
From: Representative Manuel Guzman, Jr.
To: All House members
Subject: Affordable Housing for All
 
 
Pennsylvania, like the rest of the country, is facing an affordable housing shortage. The National Low Income Housing Coalition estimates that Pennsylvania has a shortage of nearly 266,000 rental homes affordable and available for extremely low-income renters. Housing plays a central role in our lives, and housing instability has negative developmental effects on children and negative economic effects on working-age adults. However, research has found that increasing access to affordable housing is the most cost-effective strategy for reducing childhood poverty and increasing economic mobility. In addition, investing in affordable housing has positive local economic effects.
 
Recognizing the importance of affordable housing, lawmakers created the Pennsylvania Housing Affordability and Rehabilitation Enhancement Fund (PHARE) in 2010. PHARE funds are used to help create, rehabilitate, and support affordable housing throughout Pennsylvania. Currently, PHARE is funded by transfers from the Unconventional Gas Well Fund and the Realty Transfer Tax (RTT), with transfers from RTT to PHARE capped at $60 million. In his Fiscal Year 2024-25 budget proposal, Governor Shapiro is proposing to gradually raise the RTT transfer cap to $100 million by Fiscal Year 2027-28. While the governor’s proposal is a step in the right direction, we must go further in addressing our affordable housing crisis. That is why I am introducing a bill to increase the RTT transfer cap to $100 million for Fiscal Year 2024-25 and then raise it by $100 million each year after to reach $500 million for Fiscal Year 2028-29.
 
Affordable housing will continue to impact our state’s ability to attract and retain residents, and it is essential that we boldly meet the moment. Please join me in co-sponsoring this legislation to ensure that every Pennsylvanian will be able to find a home that they can afford.
 


Introduced as HB2245